What Is Bitcoin (BTC)?
Bitcoin is a decentralized cryptocurrency initially described in a 2008 whitepaper by an individual or group under the pseudonym Satoshi Nakamoto. It launched in January 2009 as the first peer-to-peer electronic cash system, enabling direct transactions without intermediaries like banks.
Key features:
- Decentralization: Operates on a distributed ledger (blockchain) maintained by a global network of nodes.
- Limited Supply: Capped at 21 million BTC, creating scarcity.
- Transparency: All transactions are publicly verifiable.
👉 Discover how Bitcoin works
Founders of Bitcoin
Satoshi Nakamoto’s true identity remains unknown. The Bitcoin network was designed to function autonomously, eliminating the need for a central authority.
What Makes Bitcoin Unique?
- Pioneering Technology: First successful implementation of blockchain.
- Store of Value: Often dubbed "digital gold" due to its scarcity.
- Censorship Resistance: Transactions cannot be blocked by governments or institutions.
Bitcoin’s Circulating Supply
As of 2025, over 19 million BTC are in circulation. The remaining coins will be mined gradually until the 21-million cap is reached (~2140).
Bitcoin Network Security
- Proof-of-Work (PoW): Miners compete to validate transactions, securing the network.
- Immutable Ledger: Altering past transactions requires controlling 51% of the network’s hash rate—practically impossible.
Energy Consumption
Bitcoin mining consumes significant energy, but many miners now use renewable sources. Innovations like the Lightning Network aim to reduce the environmental impact.
Bitcoin as a Store of Value
Institutional adoption (e.g., Tesla, MicroStrategy) has reinforced Bitcoin’s role as a hedge against inflation.
👉 Learn about Bitcoin investment strategies
FAQs
How Can I Buy Bitcoin?
Purchase BTC on exchanges like Coinbase or Binance using fiat or other cryptocurrencies.
Is Bitcoin Anonymous?
Transactions are pseudonymous; wallet addresses aren’t directly tied to identities unless linked to personal data.
What Is Taproot?
A 2021 upgrade enhancing Bitcoin’s privacy and smart contract capabilities.
What Is the Lightning Network?
A layer-2 solution enabling faster, cheaper microtransactions.
For real-time BTC price tracking and market data, visit CoinMarketCap.
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